Click For Photo: https://techcrunch.com/wp-content/uploads/2014/01/shutterstock_171635108.jpg?w=764
Media monitoring — where news sources and other public information outlets are scanned regularly for mentions of specific organizations — is a well established service used by companies for market intelligence and to measure sentiment around their businesses. Today, London-based Signal AI, which has built a substantial operation in the area, has raised $25 million funding to expand to newer frontiers: applying AI to that public data to also spot themes, risks and opportunities to make better decisions; and continuing to take that business to new markets.
The Series C is being led by Redline Capital, with previous VCs MMC Ventures, GMG Ventures (an investment firm linked to the Guardian Media Group) and Hearst Ventures also participating. The startup, which has now raised around $53 million, is not disclosing its valuation but CEO and found David Benigson said that it is “significantly higher” than before (it last raised $16 million a year ago), after growing revenues at well over 100% each year for the last two.
Presence - Investors - Round - Points - Startup
The presence of not one but two media-linked investors in the round points to the startup’s roots: Signal AI had previously been called Signal Media and worked mainly around the task of media monitoring in the more traditional sense: tracking how companies were being mentioned in the press.
Benigson said that the reason for the rebrand was to “signal” to the world how the startup was widening its remit, both in terms of its sources of data and also in terms of its customers and how they now utilize Signal’s technology.
Challenge - Opportunity - Signal - AI - Fact
The challenge and opportunity that Signal AI is tackling is the fact that the world is awash in information, much of it unstructured and usually bombarding us from many angles, but tantalising all the same for hinting at the insights that it might hold if it could...
Wake Up To Breaking News!